Strategic Acquisition of Sallyport Commercial Finance Investor Presentation November 1, 2024 Nasdaq: NRIM 1 Forward Looking Statement This investor presentation may contain "forward-looking statements" as that term is defined for purposes of Section 21E of the Securities Exchange Act of 1934, as amended. These statements are, in effect, management's attempt to predict future events, and thus are subject to various risks and uncertainties. Readers should not place undue reliance on forward-looking statements ...

Investor Presentation Second Quarter 2024 Nasdaq: NRIM 1 Northrim Overview $2.8 billion community bank founded in 1990 to provide financial services to Alaskan residents and businesses Anchorage HQ & 9 Branches Nome Fairbanks Soldotna Kodiak Juneau Sitka Ketchikan Legend Scale:100mi Branches: 20 Homer Wasilla 1990 1999 2000 2007 2008 2014 2020 2021 Founded Acquired Bank of America Branches Wells Fargo acquisition of National Bank of Alaska Assets exceed $1 Billion Acquired Alaska First Bank & Trust Acquired ...

Investor Presentation Third Quarter 2024 Nasdaq: NRIM 1 Northrim Overview $3.0 billion community bank founded in 1990 to provide financial services to Alaskan residents and businesses Anchorage HQ & 9 Branches Nome Fairbanks Soldotna Kodiak Juneau Sitka Ketchikan Legend Scale:100mi Branches: 20 Homer Wasilla 1990 1999 2000 2007 2008 2014 2020 2021 Founded Acquired Bank of America Branches Wells Fargo acquisition of National Bank of Alaska Assets exceed $1 Billion Acquired Alaska First Bank & Trust Acquired ...

Investor Presentation Northrim Overview $3.0 billion community bank founded in 1990 to provide financial services to Alaskan residents and businesses 2024 Piper Sandler Bank & Thrift Sm-All Stars Fourth Quarter 2024 Nasdaq: NRIM 1 1990 1999 2000 2007 2008 2014 2020 2021 Founded Acquired Bank of America Branches Wells Fargo acquisition of National Bank of Alaska Assets exceed $1 Billion Acquired Alaska First Bank & Trust Acquired Alaska Pacific Bankshares Acquired 100% of Residential Mortgage, LLC Assets exc ...

Investor Presentation First Quarter 2025 Nasdaq: NRIM 1 Northrim Overview $3.1 billion community bank founded in 1990 to provide financial services to Alaskan residents and businesses 2024 Piper Sandler Bank & Thrift Sm-All Stars Anchorage HQ & 9 Branches Nome Fairbanks Soldotna Kodiak Juneau Sitka Ketchikan Legend Scale:100mi Branches: 20 Homer Wasilla 1990 1999 2000 2007 2008 2014 2020 2021 Founded Acquired Bank of America Branches Wells Fargo acquisition of National Bank of Alaska Assets exceed $1 Billio ...

Northrim BanCorp (NRIM) appears an attractive pick given a noticeable improvement in the company's earnings outlook. The stock has been a strong performer lately, and the momentum might continue with analysts still raising their earnings estimates for the company.The upward trend in estimate revisions for this holding company for Northrim Bank reflects growing optimism of analysts on its earnings prospects, which should get reflected in its stock price. After all, empirical research shows a strong correlati ...

Northrim BanCorp Inc (NRIM) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, NRIM's 50-day simple moving average broke out above its 200-day moving average; this is known as a "golden cross."Considered an important signifier for a bullish breakout, a golden cross is a technical chart pattern that's formed when a stock's short-term moving average breaks above a longer-term moving average; the most common crossover involves the 50-day and the ...

Group 1 - Northrim BanCorp has a market capitalization of $402.3 million, indicating it is a relatively small financial institution [1] - The company continues to surprise with its performance, suggesting potential for growth and value [1] Group 2 - Crude Value Insights offers an investing service focused on oil and natural gas, emphasizing cash flow and companies that generate it [1] - The service includes a 50+ stock model account and in-depth cash flow analyses of exploration and production firms [2] - Subscribers can participate in live chat discussions about the sector, enhancing community engagement [2]

Financial Performance - The Company reported net income of $13.3 million and earnings per diluted share of $2.38 for Q1 2025, compared to $8.2 million and $1.48 for Q1 2024, reflecting a significant increase in purchased receivable income and net interest income [130]. - Net income for Q1 2025 increased by $5.1 million to $13.3 million compared to $8.2 million in Q1 2024, driven by higher purchased receivable income and net interest income [135]. - Other operating income surged by $6.4 million, or 81%, to $14.2 million in Q1 2025, primarily due to a $4.8 million increase in purchased receivable income [147]. - Northrim's effective tax rate increased to 24.19% in Q1 2025 from 21.94% in Q1 2024, with income tax expense rising to $4.3 million [149]. Interest Income and Loans - Net interest income increased by 18% to $31.3 million in Q1 2025 from $26.4 million in Q1 2024, with a net interest margin of 4.55%, up 31 basis points year-over-year [132]. - Net interest income rose 18% or $4.9 million to $31.3 million in Q1 2025, up from $26.4 million in Q1 2024, with a net interest margin increase of 31 basis points to 4.55% [137]. - The average yield on loans increased to 6.89% in Q1 2025 from 6.75% in Q1 2024, while the average yield on interest-earning assets rose to 6.03% [141]. - Total loans slightly decreased by $4.9 million to $2.124 billion as of March 31, 2025, from $2.129 billion at December 31, 2024, mainly due to the reclassification of $100.4 million in residential properties [152]. Deposits and Funding - Total deposits reached $2.78 billion at March 31, 2025, a 4% increase from December 31, 2024, with demand deposits representing 27% of total deposits [132]. - Total deposits increased by $97.8 million, or 4%, to $2.78 billion as of March 31, 2025, compared to $2.68 billion at December 31, 2024 [161]. - Uninsured deposits totaled approximately $1.04 billion, or 37% of total deposits, as of March 31, 2025, down from $1.1 billion, or 40%, at December 31, 2024 [163]. - The company's mix of deposits contributed to a low cost of funds, with transaction accounts representing 86% of total deposits as of March 31, 2025 [161]. Asset Quality - Nonperforming loans increased by 6% to $8.0 million as of March 31, 2025, primarily due to the addition of four loans in the first three months of 2025 [133]. - Potential problem loans identified by management increased significantly to $12.5 million at March 31, 2025, up from $1.6 million at December 31, 2024 [134]. - Nonperforming loans increased to $8.068 million as of March 31, 2025, from $7.533 million at December 31, 2024 [156]. - The allowance for credit losses (ACL) for loans held for investment decreased by $1.1 million from December 31, 2024, primarily due to the reclassification of loans [160]. Investments and Securities - Investment securities decreased by 3% to $508.5 million as of March 31, 2025, from $524.1 million at December 31, 2024, primarily due to maturities and calls [150]. - The fair value of marketable equity securities increased by $364,000 in Q1 2025 compared to the same quarter in 2024 [147]. - The average estimated duration of the investment portfolio was approximately 2.4 years as of March 31, 2025, with $319.4 million or 11% of earning assets scheduled to mature in the next 24 months [151]. - The Company’s accumulated unrealized losses on available for sale securities were $5.5 million as of March 31, 2025 [170]. Capital and Borrowing - The Company met all applicable capital adequacy requirements for a "well-capitalized" institution, with total risk-based capital at 10.62% and Tier 1 risk-based capital at 9.76% as of March 31, 2025 [176]. - The Company had cash and cash equivalents of $65.5 million, representing 2% of total assets, an increase from $62.7 million at December 31, 2024 [170]. - The Company had total unfunded commitments to fund loans and letters of credit of $523.2 million as of March 31, 2025 [170]. - As of March 31, 2025, the Company's maximum borrowing line from the FHLB is $374.8 million, which is approximately 45% of the Bank's assets [164]. Employment and Economic Indicators - The unemployment rate in Alaska was reported at 4.7% in February 2025, compared to the U.S. rate of 4.1%, with a total payroll job increase of 1.6% year-over-year [118]. - Alaska's Gross State Product (GSP) reached $70 billion in 2024, with a real GSP increase of 1.5% for the year, outperforming the national average [121]. - The average sales price of single-family homes in Anchorage rose by 6.2% in 2024 to $510,109, marking the seventh consecutive year of price increases [126]. Shareholder Information - The Company has 10.0 million authorized shares of common stock, with approximately 5.5 million issued and outstanding, leaving 4.5 million shares available for issuance [168]. - The Company had no long-term borrowings outstanding other than the FHLB advances as of March 31, 2025 [167]. - The Company had no short-term borrowings exceeding 30% of shareholders' equity as of March 31, 2025 [166].

Financial Performance - Northrim BanCorp reported net income of $13.3 million, or $2.38 per diluted share, in Q1 2025, up from $10.9 million, or $1.95 per diluted share, in Q4 2024, and $8.2 million, or $1.48 per diluted share, in Q1 2024[1]. - Net interest income increased 1% to $31.3 million in Q1 2025 compared to $30.8 million in Q4 2024, and increased 18% from $26.4 million in Q1 2024[3]. - Return on average assets (ROAA) was 1.76% and return on average equity (ROAE) was 19.70% for Q1 2025, compared to 1.19% and 13.84% in Q1 2024[3]. - Net income for the first quarter of 2025 was $13.3 million, compared to $10.9 million in the fourth quarter of 2024, representing a 22.7% increase[64]. - Basic EPS for the first quarter of 2025 was $2.41, up from $1.99 in the previous quarter and $1.49 a year ago[64]. Deposits and Loans - Total deposits reached $2.78 billion at March 31, 2025, up 4% from the preceding quarter and up 14% from $2.43 billion a year ago[3]. - Portfolio loans were $2.12 billion at March 31, 2025, down slightly from the preceding quarter but up 17% from a year ago[3]. - Non-interest bearing demand deposits increased 5% from the preceding quarter to $742.6 million, representing 27% of total deposits[3]. - Average portfolio loans were $2.17 billion in Q1 2025, up 5% from the previous quarter and up 21% year-over-year[49]. - The loan-to-deposit ratio decreased to 76% at March 31, 2025, down from 79% at December 31, 2024[41]. Interest Income and Margin - Total interest income for the first quarter of 2025 was $41.6 million, compared to $41.8 million in the previous quarter and $35.8 million a year ago[64]. - NIMTE increased to 4.61% in Q1 2025, up from 4.47% in Q4 2024 and 4.22% in Q1 2024, driven by a favorable mix of earning-assets and lower deposit costs[18]. - Average yield on interest-earning assets was 6.10% in Q1 2025, up from 6.02% in Q4 2024[44]. - The net interest margin (NIM) improved to 4.55% for the quarter ended March 31, 2025, compared to 4.41% in the previous quarter[72]. Operating Expenses and Efficiency - Operating expenses were $29.3 million in Q1 2025, slightly down from $29.4 million in Q4 2024 and up from $23.6 million in Q1 2024[24]. - The efficiency ratio improved to 64.47% in Q1 2025 from 66.96% in Q4 2024[4]. - The cost of funds decreased to 1.52% for the quarter ended March 31, 2025, down from 1.59% in the previous quarter[70]. Nonperforming Loans and Credit Losses - Nonperforming loans increased to $8.0 million as of March 31, 2025, from $7.5 million at the end of Q4 2024 and $5.3 million a year ago[22]. - Provision for credit losses recorded a benefit of $1.4 million in Q1 2025, compared to a provision of $1.2 million in Q4 2024 and $149,000 in Q1 2024[19]. - Nonperforming assets (NPAs) rose to $12.3 million at March 31, 2025, up from $11.6 million at December 31, 2024, and $5.4 million a year ago[55]. - The allowance for credit losses for loans to portfolio loans ratio was 0.98% as of March 31, 2025, down from 1.03% on December 31, 2024[69]. Shareholder Equity - Shareholders' equity increased to $279.8 million, or $50.67 book value per share, as of March 31, 2025, up from $267.1 million, or $48.41 per share at December 31, 2024[53]. - Total shareholders' equity reached $279,756 thousand, an increase from $267,116 thousand at the end of the previous quarter, reflecting a growth of 4.1%[79]. - Tangible common equity to tangible assets ratio was 7.41% as of March 31, 2025, compared to 7.23% at December 31, 2024[79]. Mortgage Operations - Mortgage loan originations were $121.6 million in Q1 2025, down from $185.9 million in Q4 2024 but up from $101.7 million in Q1 2024[8]. - Mortgage loans funded for sale were $108.5 million in Q1 2025, down from $162.5 million in Q4 2024 and up from $84.3 million in Q1 2024[30]. - The Arizona, Colorado, and Pacific Northwest mortgage expansion markets accounted for 20% of total production in Q1 2025, contributing to a total production of $122 million[33]. - Mortgage loans serviced for others increased to $1.48 billion at March 31, 2025, up 1.6% from $1.46 billion at December 31, 2024[36].